According to the details of the offer, Broadcom would pay Qualcomm $82 per share, made up of $60 in cash and the rest in Broadcom shares. Broadcom refers to this as its "best and final offer," stating that it represents a 50 percent premium over Qualcomm's closing price on November 2, referring to that point as "the last unaffected trading day prior to media speculation regarding a potential transaction."

Under the terms of its offer, Broadcom would pay Qualcomm a "significant" fee if the deal were unable to garner regulatory approval. Broadcom would also pay Qualcomm addition fees if the deal isn't finished within a one-year window.

As with its previous offer, the deal would represent the largest in tech history if it were to be approved. The combination of Broadcom and Qualcomm would also create a giant among chipmakers. Both companies already have significant standing in the smartphone market, in particular. Qualcomm has chips and components present in nearly every smartphone on the market, and Broadcom already commands a major share of Wi-Fi chipsets on the market. The combination of both companies is an interesting proposition, but it also raises major concerns.

However, the offer hinges on acceptance by Qualcomm, which has already rejected one unsolicited offer from Broadcom. "It is the Board's unanimous belief that Broadcom's proposal significantly undervalues Qualcomm relative to the Company's leadership position in mobile technology and our future growth prospects," Paul Jacobs, executive chairman and chairman of the board of Qualcomm, stated at the time. "No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry," Qualcomm CEO Steve Mollenkopf added.

It's unclear how Qualcomm might respond this time, but this latest bid comes amidst increasing pressure on Qualcomm's board. The company's annual shareholder meeting is set for March 6, and Broadcom has already made known its plans to nominate board members who are friendly to its takeover ambitions.